Rockefeller Center in Largest Ever Single-Asset Real Estate Loan and Securitization

May 26, 2005

Cleary Gottlieb represented Goldman Sachs Mortgage Company in the origination and securitization of a $1.7 billion loan secured by the New York City landmark Rockefeller Center.  This record-breaking transaction was the largest ever single-asset real estate loan, the largest ever mortgage defeasance and the largest ever single-asset securitization in history.

As part of the closing, an existing $1.2 billion mortgage loan on the property, originated and securitized by Goldman with Cleary’s assistance in 2001, was defeased with treasury securities.